Press Release

January 2015
Oliver Wight release new statistical forecasting white paper
Business improvement specialists, Oliver Wight, have published a new white paper, The
Power of Insight: Statistical Forecasting as part of Integrated Demand Management.
Providing an insight into effective demand planning, it addresses the role of statistical
forecasting meeting customer demand as efficiently and profitably as possible.
Authored by David Holmes of Oliver Wight Americas and Andy Walker of Oliver Wight EAME, the
paper discusses the advantages that statistical forecasting can bring to a business when it is
embedded across the organisation as part of an integrated demand management process,
helping anticipate changes in demand well in advance, so the business can respond accordingly.
The white paper also highlights the shortcomings of statistical forecasting and why it is critical to
design a statistical forecasting model that is right for the individual company, and for all
employees to understand the subsequent data.
All too often, processes and tools are addressed with vigour but people and behaviour not so,
says Holmes. There is a tendency for an over-dependency on computer-generated forecasts,
but without the intelligence, the forecast is just a number. Based on algorithms, forecasting tools
take elements of history to fit out a projection of the future, but history doesnt always repeat
itself. Knowledge and processes must be in place before the right tools can be specified and a
reliable statistical forecast established.
The white paper explains that statistical forecasting is focused around three basic strategies;
trends, seasonality and events. A trend-based forecast is best in a growth market, and can
provide a good understanding of where demand is heading, event-based statistical modelling
works well in highly volatile industries, and seasonality in creating cyclical patterns of demand.
Statistical forecasting provides an invaluable baseline from which to build an integrated demand
plan, says Walker. However, it must always be regarded as an input to the demand plan, rather
than an output of it. This is where Oliver Wight comes in; we can teach you how to make sense
of all your stats, and how best to use them.
To download a copy of the white paper, please go here:
http://www.oliverwightasiapacific.com/en-GB/library-events/white-papers/m/product/view/91

Notes to editors
About Oliver Wight
Oliver Wight has a 40 year track record of delivering business improvement to some of the worlds best-known
organisations. With a team of professionals offering a wealth of experience, Oliver Wight is the largest consultancy of
its type, with offices throughout Europe, South Africa, North and South America, and the Asia Pacific region. We
believe that sustainable business improvement cant be delivered by external consultants but only by our clients own
people, so unlike other consultancy firms, we transfer our knowledge to them, helping deliver performance levels and
financial results that last.
Integrated Business Planning
At the leading edge of management thinking and practice, our Integrated Business Planning (IBP) model lies at the
heart of our clients journey to outstanding business performance. Oliver Wight are the originators of sales and
operations planning (S&OP) and IBP can most simply be described as advanced S&OP. However, unlike S&OP, IBP
brings a truly strategic perspective, integrating diverse processes - in the extended supply chain, product and customer
portfolios, customer demand and strategic planning - into one seamless management process.
Supply Chain Design and Optimization
Oliver Wight supply chain design and optimization allows organisations to understand their position within the extended
supply chain; identify where value is being created and destroyed; develop profitable relationships with suppliers
customers and consumers; and optimize their supply chain (however complex) for the ultimate in customer service and
business performance.
Performance Benchmarking for Supply Chain
Oliver Wight Performance Benchmarking provides a qualitative and quantitative assessment of supply chain
performance, allowing organisations to identify opportunities for improving customer service at the same time as
dramatically reducing supply chain costs.
Meeting the Class A Standard
The Oliver Wight Class A Checklist is the longest standing and most successful business assessment tool. The latest,
Sixth Edition, raises the bar, and sets ever more demanding standards for companies on their journey to business
excellence and the Oliver Wight Class A standard.

More information
http://www.oliverwight.com
(603) 526-5800
Steve Lipscombe
RONIN Marketing Limited
+44 (0) 20 3326 5040
stevel@roninmarketing.co.uk
www.roninmarketing.co.uk